Picasso Piece Valued at $1 Million to Sell for Just $116

Art collectors and enthusiasts have a unique opportunity to own a Picasso valued at over $1 million for just 100 euros, approximately $116. The “1 Picasso for 100 euros” raffle offers participants a chance to win the 1941 gouache piece titled “Tête de Femme.” This initiative aims to raise funds for the Alzheimer’s Research Foundation, supporting vital clinical research throughout Europe.

Details of the Raffle

The raffle will take place on April 14, 2023, and a total of 120,000 tickets will be available for purchase. This marks the third edition of the fundraising project. Previous raffles have supported various humanitarian causes, including the preservation of historic sites and clean water initiatives during the COVID-19 pandemic.

The Artwork: “Tête de Femme”

“Tête de Femme,” measuring approximately 15 inches by 10 inches, showcases Picasso’s distinct Cubist style. The piece features a woman’s face depicted in shades of gray, intentionally distorted to reflect introspection and artistic concentration. Olivier Widmaier Picasso, the artist’s grandson, believes that the piece is undervalued and expresses sentiments about its worth exceeding $1 million.

Significance of the Raffle

• First held in 2013, with proceeds supporting historical preservation.
• Second auction in 2020 raised funds for hygiene and clean water during the pandemic.
• Current raffle promises significant impact on Alzheimer’s research.

Olivier Widmaier Picasso stated that “Tête de Femme” was created in the same studio as his grandfather’s renowned work “Guernica.” He noted that the artwork reflects a period of profound creativity for Picasso, occurring during World War II.

Legacy and Owner’s Choice

Winners of the raffle are not restricted in their use of the artwork; they can display it, resell it, or keep it as a personal treasure. Past winners have chosen varied paths for their prizes, showcasing the flexibility of ownership in modern art culture.

With a rich history intertwining art and philanthropy, the “1 Picasso for 100 euros” raffle stands as a testament to Picasso’s legacy and the continued impact of his work on contemporary society. The collaboration with the Alzheimer’s Research Foundation adds an important humanitarian dimension to this unique opportunity.